According to section
2(29), return means any return required to be furnished under Chapter-V of the
Sales Tax Act, 1990. Under Chapter-V, there are following types of returns:

(i) Monthly return u/s 26

(ii) Annual return rule 17

(iii) Special return u/s 27

(iv) Final return u/s 28

Normal Return [26]

1) What is
meant by normal return?

A return, which is furnished by
every registered person within the due date for the purchases and supplies made during a tax period, is called normal
return.

2) Who
furnishes normal return?

Every registered person shall
furnish a normal return.

3) In which
document return is furnished?

Return is furnished in the form
STR-7 prescribed by the FBR, along with all its related annexure.

4) In which
office normal return is furnished:

Return is filed with a designated
bank or any other office specified by the FBR.

5) Return,
where tax rate is changed:

If there is a change in the rate of
tax during a tax period, a separate return in respect of each portion of tax period showing the
application of different rates of tax shall be furnished.

6) Normal
return is compulsory return:

Every registered person,
irrespective of the fact whether he has made any taxable supply during a tax period or not, shall be liable
to furnish the sales tax return for
every tax period.

Annual Return [Rule - 17]

1) What
is meant by annual return?

A return which is furnished by a
registered person annually is called annual return.

2) Who
furnishes annual return?

Every registered person, being a
private or public limited company, shall file annual sales tax return in addition to normal return.

3) In which
document annual return is filed?

Annual return is filed in the form
STR-10.

4) In which
office annual return is furnished?

Annual return is filed in the office
of the Collector having jurisdiction.

Special Return [27]

1) What
is meant by special return?

A return filed by a registered
person for period and date notified by the FBR or required by the Collector for a particular purpose
is called special return.

2) Who
furnishes a special return?

A registered person who is required
by the FBR or to the Collector to furnish a special return.

3) Who requires
special return?

The Collector may require any person
whether, registered or not, to furnish a return in a prescribed form and such person shall furnish the return not
later than the date specified in
this regard.

4) When special
return is furnished?

Special return is furnished within
such period and within such date as may be notified by the FBR.

5) In which
document special return is furnished?

Special return is furnished in the
form prescribed by the FBR.

6) Contents of
special return form:

The special return form shall
indicate the following information:

i)
Quantity manufactured or produced

ii)
Purchases made

iii) Goods
supplied; or

iv) Payment
of arrears made; or

v) Any
other information required by the FBR or the Collector.

Final Return [28]

1) Who
furnish a final return?

A person who applies for de-registration
in terms of section 21.

2) Who requires
final return?

The Collector may require a person
applying for de-registration to furnish a final return.

3) In which
document final return is filed?

A final return is filed in the form
prescribed by the FBR.

4) When final
return is filed?

The Collector specifies the time
within which the final return is to be filed.

5) In which
office final return is furnished:

The final return is filed with a
designated bank or any other office specified by the FBR.

Impact of Non-filling of Return or Filing of an
Incorrect Return:

Where a
person who is required to file a tax return and pay the tax, due to any reason
fails to do so, he shall be liable to pay the penalty or default surcharge
under the section 33 & 34 of the Sales Tax Act, 1990. The following
provisions relate to such penalty or default surcharge:

1) Failure in
furnishing a return within the due date:

Such person shall pay a penalty of
Rs.5,000. However, if a person files a return within 15 days of the due date, he shall pay a penalty of Rs. 100 for each
day of default.

2) Submission
of false statement:

Such person shall pay a penalty of
Rs.25,000 or 100% of the amount of tax
involved, whichever is higher.
Further, such person is liable to imprisonment upto 5 years or a fine upto an amount equal to the loss of
tax involved or both.

3) Repetition
of erroneous calculation in the return during a year whereby amount of tax has been short paid:

Such person shall pay a penalty of
Rs.5,000 or 3% of the amount of the tax involved, whichever is higher.

4) Any person
who fails to furnish the information required by the FBR u/s [26(5)]

Such person shall pay a penalty of
Rs.10,000.

Return deemed to have been made [29]

A return purporting to be made on
behalf of a person by his duly appointed representative shall, for all
purposes, be deemed to have been made by such person or under his authority
unless proved to the contrary.

More by this Author

Increasing
salesThe expenses of advertising may be
justified on the ground that it helps to increase sales, which there by results
in increased production. Reduction cost It assets to reduce cost of production
and...

SALESMANSHIP It refers to convincing the customer by sound arguments for the
object of persuading him to buy
particular goods. As it is an art or technique so it is a complicated process and cannot be performed...

Is advertising a good thing or a bad thing? Here are some common criticisms of advertising.
Cost
One strong objection to advertising is that it is a costly function. The high cost of advertising is covered by...